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Multiple measures taken to stabilize prices

Updated: Aug 14,2019 10:58 AM

Commodity prices in China have remained at a stable level this year, said an official from the National Development and Reform Commission (NDRC).

Multiple measures were taken to guarantee the supply of important goods against the backdrop of a structural imbalance led by rising food prices.

Newest data from NDRC indicated an overall price drop in the fruit market as plenty of fresh and seasonal fruits have arrived since mid-July.

In the first half of August, the average retail price of vegetables fell to 6.04 yuan per kilogram, a 28.6 percent decrease from its peak in mid-February.

As for the fast-growing pork price under the impact of a swine plague, China has adopted measures regarding finance, insurance and land in a bid to aid farms and breeders, stimulate the entire production chain, and restore and increase the production capability.

Efforts were also made to increase the supply of substitutes such as chicken and beef, and to strengthen market regulation and supervision.

More than 80 million citizens with difficult living conditions have been provided with more social aid and relief, thanks to an initiative that ties social help standards with commodity prices. The initiative has been launched in 29 provinces since April, with more than 2 billion yuan spent.